Carrie Bradshaw's second favourite shoe brand is getting the Michael Kors treatment
The Guardian reports today that Michael Kors is to buy British shoe and bag - MORE Michael Kors bags! - company Jimmy Choo for a helluva lot of moolah.
The brand was founded in an East London workshop in 1996 but didn't reach iconic status until it was taken over by former Vogue editor Tamara Mellon. After attracting the attention of all the celebs and making a heap of money, Mellon sold the company to holding company JAB Luxury in 2011 for over £500m.
The sale doesn't come as a complete surprise as JAB put their shares on the market earlier this year. Current Jimmy Choo CEO is staying on with creative director Sandra Choi, but changes are sure to be, ahem, afoot.
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Taylor Swift in the Madison sandal at the American Music Awards 2013
A man of few words, Michael Kors described the acquisition as "ideal". Chief executive John Idol said: “Jimmy Choo is known worldwide for its glamorous and fashion-forward footwear. The company is a leader in setting fashion trends. Its innovative designs and exceptional craftsmanship resonate with trendsetters globally. We believe that Jimmy Choo is poised for meaningful growth in the future and we are committed to supporting the strong brand equity that Jimmy Choo has built over the last 20 years.”
Jimmy Choo is known for its strappy styles and is a favourite of Solange, Kate Bosworth and Michelle Obama, to name a few celebrity fans.
